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USDJPY – Expectations for Impulsive Price Decline Persist

13.12.2024

After the price rose and reached halfway through the previously formed impulsive decline, it started to correct against expectations of a drop. It is quite possible that after some stagnation, the price will eventually move in the anticipated direction. As previously mentioned, an impulsive decline is expected, driven by the development of the third wave in the bearish impulse.

At the moment, there is a good opportunity to enter this potential movement at favorable prices with minimal risk. Selling positions can be opened either at current market levels or on a breakout below the lower boundary of the correction range at 151.80.

Recommendations: Sell at 151.80, SL at 152.10, TP at 140.00.